The Big Three Auto Bailout - Bring in the GEICO caveman
I can't believe it, all three CEO(s) showed up to convince the US Congress to bail them out by asking for 25 Billion dollars without any plan.
No plan to that would show how they would use the money, like in what the results would be three or six months from now. No plan to show how they would get away from the SUV and trucks they seem to be hooked on and still advertizing. No plan that would boost sales by selling more cars that have good gas mileage. No plan on how they would realign their business for the future. No plan to take advantage of existing opportunities. And most importantly no plan to show the American public what their ROI on a 25 Billion dollar loan would be.
Now I know ROI may sound like a big financial term but I suspect the three Chief Executive Officers have forgotten what ROI stands for. So for GM, Chrysler and Ford if you are reading this, it means Return On Investment. For the shareholders it means you better replace these guys real quick or you may not get another chance to.
From what I could see Congress may have felt that the GEICO caveman would be a better choice to replace the three stooges.
It's now the end of November, Ford never took any bailout money, the other two cavemen got their bailout and have burned through all the money trying to keep the cave warm.